ATLANTA -

Manheim determined wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) rose 0.9 percent in March versus a month earlier. This movement resulted in the Manheim Used Vehicle Value Index reading coming in at 124.4 for the month, an increase of 2.2 percent for the first quarter, and a rise of 3.3 percent on a year-over-year basis.

“The strength of wholesale pricing in 2014 has been consistent with the fundamentals of the retail market,” Manheim chief economist Tom Webb said. “In March, new-vehicle sales sprung back from a weather-induced stall in January and February. Used vehicle retail sales also picked up, even though those sales were less impacted by the harsh weather.

“Certified pre-owned sales, which have hit successive annual highs in each of the past three years, rose 10.9 percent in the first quarter. That supported late-model used vehicle values — the very segment that many analysts were worried about because of rising wholesale supplies,” Webb went on to say.

That 3.3-percent price jumped record on a year-over-year basis arrived as a result of increases with four of the six vehicle segments Manheim tracks.

Pickup prices led the way with a 9.8-percent jump, followed by van prices, which moved 5.3 percent higher. Prices for midsize cars rose 4.5 percent in March while prices for SUVs, and crossovers moved 3.6 percent higher.

The two segments to post marginal price declines in March included compact cars (down 0.1 percent) and luxury cars (down 0.6 percent).

“Pickups, by far, have shown the strongest wholesale pricing — both in recent months and over the past year,” Webb said. “Compact cars and luxury cars are the only two major segments down over the past year. And those declines are very modest.”

“With respect to price tiers, the wholesale market is performing well across-the-board,” he continued.

Webb also discussed rental risk units in his latest index commentary, mentioning how volumes are lower and prices are higher.

“Rental risk units flowing back into the wholesale market remained depressed in March after being at low levels in January and February,” Webb said. “As with everything else in the economy, blame the weather. Rental car companies took delivery of nearly a half million new vehicles in the first quarter, but high demand in the insurance replacement segment meant defleeting was delayed. Massive recalls and a late Easter suggest the flow back into the wholesale market will continued to be pushed back.

“The end result has been high prices and high mileage,” he went on to say. “In March, average auction prices for rental risk units (both adjusted and unadjusted for mix and mileage) were up year-over-year and sequentially. Average mileage remained above the 40,000 mark for the third consecutive month.”